Best mortgage lenders in Rhode Island
No lender is best for everyone, so this page ranks Rhode Island lenders on what federal records can measure: who makes the most loans here, who leads for FHA and VA, and what their Rhode Island borrowers paid. All figures are 2025 HMDA data; no lender pays to be listed.
Who leads for what in Rhode Island
"Most loans" and "Largest average loan" are among the 15 lenders with the most Rhode Island originations in 2025 (the latter counts lenders with at least 300 loans in the state); FHA and VA leaders count every lender's home-purchase loans.
The 15 lenders that made the most home loans in Rhode Island
| # | Lender | Type | Loans | FHA | VA | Avg loan | Approval* |
|---|---|---|---|---|---|---|---|
| 1 | Citizens | Bank | 3,762 | 0.4% | 0.1% | $216,824 | 68.1% |
| 2 | Navigant Credit Union | — | 1,833 | 0.0% | 0.0% | $248,088 | 80.0% |
| 3 | COASTAL1 Credit Union | — | 1,317 | 0.0% | 0.0% | $198,614 | 73.7% |
| 4 | The Washington Trust Company, of Westerly | — | 1,040 | 5.9% | 0.8% | $289,433 | 73.0% |
| 5 | Rocket Mortgage | Nonbank lender | 1,016 | 13.0% | 5.0% | $265,787 | 78.3% |
| 6 | Movement Mortgage | Nonbank lender | 1,001 | 19.6% | 9.7% | $390,605 | 95.5% |
| 7 | Primary Residential Mortgage | Nonbank lender | 690 | 38.6% | 1.7% | $294,623 | 88.6% |
| 8 | BankNewport | — | 656 | 1.7% | 0.0% | $328,109 | 76.6% |
| 9 | CMG Home Loans | Nonbank lender | 587 | 24.5% | 2.7% | $347,845 | 88.7% |
| 10 | Guild Mortgage | Nonbank lender | 556 | 16.5% | 4.7% | $344,298 | 96.0% |
| 11 | United Wholesale Mortgage | Nonbank lender | 531 | 28.2% | 13.9% | $398,051 | 79.1% |
| 12 | NFM, Inc. | — | 459 | 35.5% | 3.5% | $441,971 | 98.1% |
| 13 | Bank of America | Bank | 432 | 0.0% | 0.0% | $309,606 | 46.0% |
| 14 | Baycoast Mortgage Company, LLC | — | 429 | 3.0% | 2.1% | $532,948 | 96.4% |
| 15 | loanDepot | Nonbank lender | 410 | 26.1% | 4.9% | $290,951 | 71.1% |
Source: 2025 HMDA originations, FFIEC/CFPB. FHA/VA = share of each lender's Rhode Island loans. *Approval = originated ÷ (originated + denied); it mirrors a lender's channel and borrower mix, not how hard it is to qualify.
Also among the 25 lenders with the most HMDA filings here: PennyMac, Newrez, Chase, Freedom Mortgage, BayCoast Bank, Westerly Community, Mr. Cooper, Rhode Island Credit Union, Centreville Bank, Navy Federal Credit Union.
FHA lenders in Rhode Island
1,767 FHA home-purchase loans were made in Rhode Island in 2025 by 104 lenders. The typical FHA buyer here paid $14,155 in loan costs, including the 1.75% upfront mortgage insurance premium, at a median rate of 6.375%. The ten lenders that made the most:
| # | Lender | FHA purchases | Share | Loan costs | APR vs benchmark |
|---|---|---|---|---|---|
| 1 | Primary Residential Mortgage | 224 | 12.7% | $17,155 | +0.76 |
| 2 | Movement Mortgage | 175 | 9.9% | — | — |
| 3 | NFM, Inc. | 152 | 8.6% | $14,592 | +0.70 |
| 4 | American Neighborhood Mortgage Acceptance Company LLC | 107 | 6.1% | $15,237 | +0.75 |
| 5 | CMG Home Loans | 105 | 5.9% | $12,533 | +0.56 |
| 6 | Province Mortgage Associates, Inc. | 85 | 4.8% | $14,072 | +0.66 |
| 7 | Semper Home Loans, Inc | 78 | 4.4% | $18,540 | +0.66 |
| 8 | United Wholesale Mortgage | 64 | 3.6% | $13,625 | +0.31 |
| 9 | Guild Mortgage | 62 | 3.5% | $12,030 | +0.50 |
| 10 | The Washington Trust Company, of Westerly | 54 | 3.1% | $11,851 | +0.32 |
| All Rhode Island FHA buyers | 1,767 | 100% | $14,155 | +0.61 |
Among them, The Washington Trust Company, of Westerly had the lowest median loan costs ($11,851) and Semper Home Loans, Inc the highest ($18,540) — $6,689 apart on similar loans, which is why a second Loan Estimate is worth getting.
Source: 2025 HMDA loan-level records (FFIEC/CFPB), first-lien FHA home purchases in Rhode Island. Costs and APR vs benchmark are medians of each lender's 30-year fixed loans here; "—" = fewer than 30. How we compare lenders.
VA lenders in Rhode Island
594 VA home-purchase loans were made in Rhode Island in 2025 by 82 lenders. The typical VA buyer here paid $7,813 in loan costs (including the VA funding fee for borrowers who owe it) at a median rate of 6.25%. The ten lenders that made the most:
| # | Lender | VA purchases | Share | Loan costs | APR vs benchmark |
|---|---|---|---|---|---|
| 1 | Veterans United | 128 | 21.5% | $7,415 | −0.31 |
| 2 | Movement Mortgage | 62 | 10.4% | — | — |
| 3 | Navy Federal Credit Union | 39 | 6.6% | $5,984 | −0.62 |
| 4 | American Neighborhood Mortgage Acceptance Company LLC | 25 | 4.2% | — | — |
| 5 | United Wholesale Mortgage | 19 | 3.2% | — | — |
| 6 | Guild Mortgage | 18 | 3.0% | — | — |
| 7 | USAA | 16 | 2.7% | — | — |
| 8 | Newrez | 15 | 2.5% | — | — |
| 9 | NFM, Inc. | 15 | 2.5% | — | — |
| 10 | CMG Home Loans | 13 | 2.2% | — | — |
| All Rhode Island VA buyers | 594 | 100% | $7,813 | −0.24 |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), first-lien VA home purchases in Rhode Island. Costs and APR vs benchmark are medians of each lender's 30-year fixed loans here; "—" = fewer than 30. Data notes and limits.
How concentrated is the Rhode Island market?
454 institutions reported Rhode Island home-loan records for 2025 — the 7th-fewest of any state. The single most active lender accounts for 13.3% of all records and the top five for 30.2%, the 6th-most concentrated market of 51. With that much of the market in a few hands, it pays to get at least one quote from outside the top five.
How to choose a lender in Rhode Island
Rhode Island borrowers took FHA loans 11.0% of the time and VA loans 4.1% (U.S. 13.2% and 8.2%). Every Rhode Island county uses the $832,750 conforming limit, so loans above it are jumbo and priced separately.
Get Loan Estimates from three or more lenders in the same two-week window (one credit inquiry) and compare APRs. For down-payment help, ask whether they are approved for RIHousing's Extra Assistance or 15kDPA and FirstGenHomeRI — only participating lenders can offer them (terms and sources).
Rhode Island lender FAQ
Who is the biggest mortgage lender in Rhode Island?
By 2025 federal HMDA data, Citizens originated the most home loans in Rhode Island — about 3,762, or 14.5% of the state's originations.
Which lender makes the most FHA loans in Rhode Island?
Primary Residential Mortgage made the most FHA home-purchase loans in Rhode Island in 2025 — 224, or 12.7% of the 1,767 FHA purchases made by 104 lenders. Movement Mortgage (175) was second.
Which lender makes the most VA loans in Rhode Island?
Veterans United made the most VA home-purchase loans in Rhode Island in 2025 (128, 21.5% of the state's VA purchases). VA loans were 4.1% of Rhode Island originations, the 5th-lowest VA share among the states.
How much are closing costs on an FHA loan in Rhode Island?
The typical Rhode Island FHA buyer in 2025 paid $14,155 in total loan costs on a median $395,000 loan — lender fees, required third-party services and the 1.75% upfront mortgage insurance premium, per the Closing Disclosure.
That figure excludes recording taxes, prepaid interest and insurance, escrow deposits and the down payment.
Rankings are editorial and independent, built from public federal data — no lender pays to be listed. This is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.
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